Tony O Elumelu is a Nigerian economist, banker, investor and philanthropist. Elumelu is Chairman of Heirs Holdings. The former United Bank for Africa (UBA) Managing director, and chairman of Heirs Holdings, Tony Elumelu made $123million in just three weeks

Nigerian banker Tony O. Elumelu has become at least $123 million richer between November 1 and November 21 as shares of Transcorp PLC, a Nigerian-Stock Exchange-listed conglomerate, surged 186% in that period. Transnational Corporation Of Nigeria, usually referred to as Transcorp, is an emerging conglomerate holding investments in hotels, power and agriculture. On November 1, the company’s stock was trading at N1.87 ($0.01), and at the close of trading today (Thursday), the stock was trading at N5.35 ($5.35).